Deeptech startup Planys Technologies and healthcare startup PlatinumRX secured early-stage funding, the companies said on Monday.
Planys Technologies has raised $5.1 million (Rs 43 crore) in a funding round led by Ashish Kacholia. The round also saw participation from Samarthya Advisors, Golden Birch Investments, Cogniphy Angel Fund, Krishna Defence and Impact India Investment Partners LLC.
Founded in 2015 by IIT Madras alumni and faculty, including Tanuj Jhunjhunwala, Vineet Upadhyay, Prabhu Rajagopal and Krishnan Balasubramanian, Planys is a deeptech startup specializing in marine robotics, underwater non-destructive testing and digital platform solutions for infrastructure management.
Planys' technology stack is indigenously designed, developed, and manufactured in India and caters to dams, bridges, ports, oil and gas, petrochemicals, power and defense sectors.
It has a portfolio of 10 products and 30 patents and was incubated at IIT Madras Incubation Cell. It had previously raised Rs 1.75 crore in an angel round.
Healthcare startup PlatinumRx has raised $800,000 (Rs 6.6 crore) in a seed funding round from homegrown venture capital firm IndiaQuotient and undisclosed angel investors.
The Bengaluru-based startup will use the funds to improve its warehousing and distribution network, expand its presence across the country and increase its product offerings, according to its statement.
Founded by Ashutosh Pandey and Piyush Kumar, PlatinumRx’s platform curates and offers value substitute essential medication. Its substitution engine helps consumers find the exact substitute medicine having the same salt, same strength and same effectiveness at a fraction of the cost.
It claims to deliver across 20,000 pin codes within 2-3 days and provides same-day delivery in Bangalore. They have also partnered with old age homes and rehab centers across Bangalore.